News for the federal worker and those interested in official news of the federal government, federal civilian service employees and civil servants. Various federal news articles with reference citations.
Snippet of Article: "...Fed-funds futures now point to a nearly 100% chance that Fed officials opt for another quarter-point cut at the Dec. 17-18 meeting. But the impetus has less to do with the specifics of Wednesday’s inflation data and more to do with the overall trajectory of economic conditions. ..."
Source: www.barrons.comSnippet of Article: "...PPG Industries plans to lay off about 1,800 employees amid efforts to cut costs, with the paints and coatings maker also inking a deal to sell a sizeable chunk of its architectural business. Pittsburgh-based PPG said Thursday that the job cuts would primarily impact positions in the U.S. and Europe. ...PPG's recent cuts also arrive amid an environment of poor home sales. Existing U.S. home sales slipped 2.5% in August, the latest month with data available, as prices increased on an annual basis for the 14th consecutive month. And the average rate on a 30-year mortgage surged to 6.32% last week, below 2024's peak of 7.22% in May."
Source: www.cbsnews.comSnippet of Article: "...The monthly jobs report Friday showed the pace of hiring in the US moderated over the last three months to the slowest since the onset of the pandemic in 2020. Even so, the numbers left investors skeptical as to whether Fed officials would opt for an outsize rate cut at their Sept. 17-18 meeting.
The release sets the table for a heated debate between those like Fed Chair Jerome Powell, who is open to a larger cut to ensure the central bank doesn’t fall behind the curve, and other officials who “are still waffling on a quarter point...
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Snippet of Article: "The Fed wants to whip regional lenders into shape, fearing a ticking time bomb in the souring commercial real estate market...Michael Barr, shared the Federal Reserve’s direction of travel in a speech to the Columbia Law School annual banking conference in February. The writing is on the wall for regional banks: more scrutiny, more supervision, more rules. ...Given that regional bank chiefs had an easier ride under the Donald Trump administration, they must be crossing their fingers and toes that, come November 5, the White House turns from blue to red."
Source: www.thebanker.comSnippet of Article: "...When asked if the Fed cares about consumers' reaction to current inflation, Pinto states, "No, they clearly want it, below 3% and is close to two as possible. I think they're obviously tracking all the different metrics. I think wage inflation, from our vantage point, is one of the most important ones... Obviously, there are parts of inflation that are out of control of the Fed, whether it's energy prices or housing prices, those are more driven by externalities and cyclical factors. But the Fed is trying to manage the mandate between keeping inflation in check, but also keeping the economy on solid footing."..."
Source: finance.yahoo.comSnippet of Article: "...latest U.S. Consumer Price Index (CPI) data released on Wednesday, which showed a 0.4% increase in month-on-month inflation and a 3.5% rise compared to the previous year. Core CPI, which excludes volatile food and energy prices, also saw an increase of 0.4% month-on-month and 3.8% year-on-year. These figures exceeded market expectations and underscored the challenge faced by the Fed in managing inflationary pressures. The overall inflation rate of 3.5% is the highest level since ..."
Source: www.breakinglatest.newsSnippet of Article: "Bowman’s position is resolute: the solution may well involve elevating interest rates and maintaining them at a more stringent level. ...data stream continues to show lackluster progress towards achieving the 2% inflation goal, Bowman has signaled her inclination to endorse an interest rate increase in the foreseeable future...."
Source: www.cryptopolitan.comSnippet of Article: "...Federal Reserve officials at their policy meeting in July largely remained concerned that inflation would fail to recede and that further interest-rate increases would be needed. At the same time, cracks in that consensus were also becoming more apparent. “Most participants continued to see significant upside risks to inflation, which could require further tightening of monetary policy..."
Source: www.bloomberg.comSnippet of Article: "The demise of three banks within just one week this month bears eerie resemblance to September 2007. ...By October 2008, the full-blown U.S. banking crises had hit European and U.K. banks, ultimately requiring the U.K. government to take majority-stake holdings in the Royal Bank of Scotland and HBOS. They were, effectively, nationalized. With that sequence of events in mind, now consider what has unfolded in the U.S. and Switzerland in recent days. ..."
Source: www.barrons.com
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